Zinc premiums widen in Northern Europe, edge up in Italy
- US lead premium holds near eight-year high
- High freight costs pressure US zinc premium
- Preliminary ILZSG estimates put the refined lead market in a 223,100-tonne surplus in 2020
- Fastmarkets analysts posit the 2021 refined lead surplus at 80,000 tonnes
- LME three-month lead price closes at $2,086.50 per tonne on Tuesday
- LME three-month zinc price closes at $2,835 per tonne on the same day
The special high grade (SHG) zinc premium in Northern Europe widened on Tuesday, reflecting deals heard above and below last week’s premium range of $95-105 per tonne, which had been in place since January 12.
Fastmarkets assessed both the zinc SHG min 99.995% ingot premium, dp fca Antwerp
and the corresponding zinc SHG min 99.995% ingot premium, dp fca Rotterdam
at $93-107 per tonne on Tuesday.
Fastmarkets’ assessment of...